Argentina Low-Cost Flybondi Grounds 85% of Fleet Amid Deep Crisis

ARGENTINA · BUSINESS

Argentina’s second-largest domestic carrier has all but stopped flying. With most of its fleet idle and cancellations piling up, Flybondi’s collapse is reshaping the country’s low-cost air market.

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Flybondi grounds most of its fleet

Argentine low-cost carrier Flybondi is in one of the deepest operating crises since it launched in 2018, flying with just two active aircraft while 11 of its roughly 13 planes sit out of service, about 85% of the fleet. The breakdown was laid bare when the airline ran a single day at Buenos Aires’s Aeroparque with one plane, operating just four flights and canceling another 12.

The scale of disruption is large. According to data from consultancy Adventus, Flybondi canceled more than 2,500 flights between June 2025 and May 2026, affecting over 350,000 passengers. In May alone, on-time performance fell to about 27%, while roughly 47% of scheduled flights were suspended.

Maintenance backlogs and unpaid leases

At the heart of the crisis is the state of the fleet. The grounded aircraft are sidelined mostly by maintenance problems and missed payments on leasing contracts, with several planes immobilized over debts to international suppliers. Among the most damaging cases, two aircraft were sent to Mexico for major maintenance but could not return because of unpaid bills said to total around $5.5m.

That inability to bring planes back into service deepens the capacity shortfall and further limits scheduling, creating a spiral in which fewer flying aircraft mean more cancellations and weaker cash flow to pay the bills keeping the rest grounded.

Boardroom turmoil and legal pressure

The operational collapse has been accompanied by upheaval at the top. Reports say the chief executive departed after only about four months in the role, part of a broader reshuffle that also saw the exit of a long-serving executive central to the airline’s development. On the financial and legal front, the company has faced seizures of its accounts in recent weeks tied to labor claims over dismissals and unmet agreements.

Argentina’s civil aviation regulator, ANAC, had already filed infraction notices over cancellations and rescheduling without notice in late 2025 and early 2026, signaling that the problems predate the latest acute phase.

From expansion plan to survival

The reversal is sharp. As recently as December, Flybondi had announced an expansion plan to add up to 35 Airbus and Boeing aircraft and grow its fleet by 230% over four years, following a change of control in mid-2025 to COC Global Enterprise, replacing previous owner Cartesian. Instead of growing, the carrier is now fighting to keep flying.

Industry sources point to a scheduling strategy that booked flights beyond real capacity, generating upfront cash but ending in cancellations that eroded the trust of both passengers and regulators.

Why it matters

Flybondi had become Argentina’s second-largest domestic operator behind Aerolíneas Argentinas, holding roughly 10% of the cabotage market in early 2026. Its decline is reordering domestic demand, pushing passengers toward other carriers in search of reliability, and testing the open-skies bet that brought low-cost flying to Argentina in the first place.

For travelers, including foreign visitors who relied on cheap domestic hops, the practical effect is fewer reliable budget options and a scramble to rebook. Whether Flybondi can stabilize, recapitalize or be absorbed is now an open question for the market.